Without a doubt, raising children can be one of the most joyful experiences of your life. But that doesn’t mean it will always be easy and it most certainly won’t be cheap. However, that doesn’t have to mean it can’t be affordable. If you know what you’re doing, there are all kinds of ways to save money raising your little ones.
While the topic of breastfeeding is controversial with some, there’s no doubting that it represents a very real way to save money. For one thing, it’s obviously going to be far more affordable than buying formula. However, studies have also found that children who breastfeed are far less likely to need the same amount of medical care as those who don’t. So, amongst other things, you’ll save on potentially costly doctor’s visits too. Furthermore, children who breastfeed tend to get introduced to solid food a lot later, meaning you also won’t be spending as much on grocery bills any time soon.
Another cost of raising a child that can quickly add up is providing them with toys. All kids love toys, of course, but that doesn’t make them cheap. Plus, they can grow out of them or otherwise become bored with them quickly. Instead, look for friends who will soon have hand-me-downs from their own children. You can also buy used from local stores or online. Most toys can be rendered perfectly clean with a rotation through your dishwasher or some liberal doses of disinfectant.
Lastly, paying for daycare can hurt your budget a lot. Instead, get a group of parents together with kids who are the same age and pool your resources to pay for a nanny. Each parent takes a turn having the kids to their home, where the nanny will come to watch. This kind of setup can save you a lot on childcare costs.
Though raising a child is definitely a big deal, it doesn’t have to be such an expensive one. The three tips above can help you save a lot of money without sacrificing your child’s wellbeing.
Source:
http://money.howstuffworks.com/personal-finance/budgeting/5-ways-to-save-money-raising-kids.htm
